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Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt
The following is a summary of the Company's long-term debt at March 31, 2022 and December 31, 2021:
 March 31,
2022
December 31,
2021
Revolving term loan from CoBank, interest at variable rates (2.9% and 2.56% at March 31, 2022 and December 31, 2021, respectively), secured by substantially all property and equipment. Loan matures March 20, 2026.
$16,000,000 $16,902,473 
Less current maturities(4,000,000)(2,902,473)
Less debt issuance costs, net of amortization of $16,678 and $15,458 as of March 31, 2022 and December 31, 2021, respectively
(7,322)(8,542)
Total long-term debt$11,992,678 $13,991,458 
Schedule of Maturities of Long-term Debt
The following are minimum principal payments on long-term debt obligations for the twelve-month periods ended March 31:
2023$4,000,000 
20244,000,000 
20254,000,000 
20264,000,000 
  
Total$16,000,000